Insurance

Manage climate and macroeconomic risks

By Industry Vertical

Insurance

While generational change is still buffeting the insurance industry, many insurers are becoming more comfortable with new technologies and changing from product-focused to customer-centric organizations.

Challenges

Insurance companies face significant global headwinds in 2020 with the global health crisis swirling. In the backdrop insurers are according to PWC, feeling the challenges moving away from being product-focused organizations with siloed functions and having to cope with forces from outside the industry that are profoundly shaping and influencing customer expectations.

This has resulted in customers expecting a much faster, transparent, and more intuitive experience than they’ve ever had before. Not only has this resulted in a different customer mindset, it also means that every level of the marketing and sales funnel has the opportunity for – and the challenge of – a much higher level of engagement.

Opportunities

Improving customer experience with data analytics

Gaining insights from experience design

Seeking expense efficiencies and variabilities of costs

Managing conduct risk and regulatory headwinds

Climate and macroeconomic risk

Being smarter with Marketing Efforts

Growing Insured share of wallet and book value

Managing culture and compliance

Actionable Outcomes

Enhance NPS

Create predictive NPS to enhance member insights

Surcharge Customer Journey

From thousands of member conversations, supercharge your customer journey’s strategy

Improve Marketing ROI

With voice data being added to the data mix gain insights into triggers and events to improve marketing ROI